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Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013) clauses has begun, and the subcommittee has just had its third meeting.
BIMCO has established a subcommittee to review the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013). Generally, charter parties contain war clauses which are also known as “War Risk Clauses” and from time to time also the war cancellation clause is included. It is important that these clauses reflect the nature of modern conflicts, and the subcommittee has started discussing this topic and whether amendments are needed to update the clauses.
At its first meeting, the subcommittee discussed the scope and objectives of the project. The general experience is that the clauses are applied unamended and that they work well since the last revision of the clause. During the last revision of CONWARTIME 2013 and VOYWAR 2013, changes in case law in particular the “Triton Lark”, the development in trading practices and the experience on demands for specialist cover brought a need to adjust the definitions of the clause. Now, about 10 years later since the last revision, and as the geopolitical landscape does not stay status quo, the subcommittee will consider whether a revision of the current wording would be relevant and beneficial to the industry. Furthermore, the subcommittee will focus on ensuring that the clauses remain commercially workable and fit today’s needs of the industry. At the following meeting, the subcommittee discussed the war risk insurance aspects, both in terms of cover and the responsible party to pay the premium.
Members of the subcommittee are Natalya Skjelmose (Norden), Anders G. Hovelsrud (DNK), Dirk Janssen (Nordisk), Dorte Nielsen (Centurion Bank), Henning Babiel (ADM), Neil Roberts (Joint War Committee), Nicola Cox (West), Richard Neylon (HFW), Richard Young (Beazley).
Source: BIMCO
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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Siam City Cement - Thailand
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
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